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Updated about 9 years ago,

User Stats

19
Posts
7
Votes
Robert Fullum
  • Astoria, NY
7
Votes |
19
Posts

FHA Primary Residence meanings

Robert Fullum
  • Astoria, NY
Posted

I've been digging through searches and docs online and i can't find a straightforward answer. I'm trying to determine what constitutes a Primary Residence for an FHA. Most things merely say something to the effect of "live in a majority of the year." Simple enough.

On a base level the math is easy. Half the year is: 365/2 = 182.5 -- 183 days is a majority. I can split my time between two locations if i spend 183 days in the FHA property.

My wife is a teacher. Suppose we wanted to spend her summer vacation traveling, say, 6 weeks. Are those 42 days traveling applicable to my primary location? Do i just have to put in more days in my primary than my secondary, regardless of the number?

The reason i ask is because i would love to buy a 4 unit in Portland, OR using an FHA as my first property. But, also spend time in NYC where our families are. I also want to travel more. Trying to figure out exactly how much time i need to be physically present so as not to commit fraud or lose the loan.

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